Fortress Skips Dividend For Eighth-Straight Quarter

Jun 24 2010 | 7:16am ET

If something doesn’t change for two whole years, is it still news?

News or not, Fortress Investment Group said it won’t pay a second-quarter dividend. The alternative investments giant has not paid a dividend to investors since the second quarter of 2008.

As with the previous seven quarters, Fortress said it would hold onto the capital that would have otherwise paid the dividend “for potential future investment opportunities and for working capital purposes.”

New York-based Fortress, which manages about $32 billion, posted a first-quarter loss, but saw the performance of its funds and its fee income rise sharply.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.